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News & Views

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Launching A Comprehensive New Learning Solution: The Anchor Capital Group and Moore South Africa Join Forces

2020 and 2021 have been years unlike any other and have challenged us in our personal, professional and business capacities – not only in South Africa, but also worldwide.    As a network, Moore South Africa had to completely rethink how our businesses operate and find new innovative ways to achieve our goals. Our in-house learning and development academy, TAG Talent & Growth, together with its online learning portal, has been instrumental in guiding our network to transition to a remote workforce and build the required skillset to meet the new challenges, all whilst retaining the required level of compliance and excellence. This experience has highlighted the value that a well-developed, user-friendly and forward-thinking product such as our learning portal could bring to the new world of work.   As the Moore South Africa network was extending its in-house academy to external audiences, the Anchor Capital Group identified the need for a comprehensive, strategically developed online Continuing Professional Development (CPD) solution for, among others, SAICA and IRBA members.  To this extent, the Anchor Capital Group partnered with financial and management accounting learning and development professional, Anton van Wyk CA(SA), to spearhead their CPD venture.    Based on the synergetic and complementary nature of their strategies, the Anchor Capital Group and Moore South Africa are proud to announce the amalgamation of their strengths, and existing products and platforms, to bring you the new development hub of choice for future-ready professionals: CPD Campus.

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China Tech Stocks Fall Again as Data Privacy Law Passes

Over the past year, China has cracked down heavily on its technology (tech) sector in areas such as data security and anti-competitive practices, gaming, and fintech. On Friday (20 August), tech shares in China fell once again after the country passed strict data privacy legislation, adding to these tech counters’ compliance burden. Marco de Matos of Anchor Capital looks at the recent developments.

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Directors – To Remove or Resign

The Companies Act 71 of 2008 (the “Act”) imposes a fiduciary duty on all directors of a company. Directors have a duty to act in good faith, exercise reasonable care, skill and diligence and act in the best interests of the company. The fiduciary duties of a director may be relinquished if they choose to resign, or if they are removed from the board.

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Renewed ETI and PAYE Tax Relief Measures

Following the recent unrest, destruction of public and private infrastructure and extensive business interruptions country wide, the president announced additional tax relief measures during his recent address to the nation. Subsequently, National Treasury has released draft Legislative Amendments to enact the proposed interim tax relief measures. Although not promulgated yet, these Bills provide the necessary Legislative Amendments required to implement the Covid-19 tax relief measures as proposed. Mark Hewitt takes a more detailed look.

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Purchase Price Allocation (PPA) And When Do I Need One?

If you are in the process of acquiring a business or have recently acquired a business then you’ll need to know this information. It is likely that the purchase of a business includes an element of Goodwill (i.e. the purchase price is greater than the net assets you acquired). In these circumstances, the International Financial Reporting Standards (IFRS) require you to assess the fair value of assets acquired and liabilities assumed. This process is referred to as a Purchase Price Allocation (PPA). In this article, Moore Advisory Johannesburg takes a closer look at what a PPA is, who needs to perform one and when it needs to be performed.

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UIF explained

The Department of Finance has increased the UIF Contribution limit to R177.12 with effect from 1 June 2021. The result thereof is that UIF will now be capped at a maximum contribution of R177.12 per month (as opposed to the R148.72 previously). Megan Veldman unbundles UIF.

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Malala Day

“How dare the Taliban take away my basic right to education?” … 11-year-old Malala Yousafzai as she delivered her first speech and spoke up against the closing of girls’ schools and education in Swat Pakistan.   Little did one know that her journey would be a testimony to the triumph of the human spirit … a story of Bravery, Strength, Courage and Defiance against the Taliban leading to a fight for greater peace, and becoming an advocator of free, safe and quality education for girls around the globe. Anusha Ramraj gives us insight into Malala Day.

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Benefits of an Antenuptial Contract

Since 1984 there have been three marital regimes in South Africa: In community of propertyAntenuptial contract with accrualAntenuptial contract without accrual Tarryn Wright and Karen Botha dive in deeper.

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NPOs Threatened with Deregistration

Approximately 70% of NPOs in South Africa are non-compliant. Holly Lawson looks at the ramifications of non-compliance and the affect that this may have on the country’s NPOs and communities at large.

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Tax Deduction for Home Office Expenses. Do You Qualify?

Flexible work arrangements have become increasingly popular as the need of employers and employees change in response to the coronavirus (COVID-19) pandemic. In this article, Grant Ward discusses the specific circumstances that need to be met before workers can qualify for a home office deduction for tax purposes.